Debating the merits of one song over the other is rather pointless, but I've found this line of reasoning to be somewhat convincing;
In the sixties there were already tons of bands, writing tons of songs, making a whole bunch of albums (although nothing close to todays numbers). Only a handful of those albums are still printed today, and most people can only name a few bands from those days. The albums, songs and artists that are still remembered haven't "survived" by chance, they survived because they're good and the music still touches something in some people.
In other words, Purple Haze hasn't become redundant by a mountain of songs that are just-like-it-only-better (in sound quality if nothing else), mostly because you can't copy that Hendrix sound.
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